Hong Kong Dollar De-Pegging Risk Spikes As Yuan Slides, China Stocks Drop To 2-Year Lows
Update:
- SHANGHAI COMPOSITE INDEX FALLS 20% BELOW DECEMBER HIGH
To 2-Year Lows...
Offshore Yuan is being dumped again...
And The Hong Kong Dollar is under sever pressure within its peg band...
As De-Pegging risk expectations ramp up...
As we detailked earlier,following last night's notable weakness in Chinese stocks (now down 15-25% year-to-date) and today's plunge in US markets, Offshore Yuan has begun to tumble lower once again ahead of today's Yuan fix. Having slapped short Yuan speculators with a dire liquidity withdrawal, it appears traders are seeing through the "over-invoicing" bullshit of last night's trade data and outflows appear to have restarted. Equities across AsiaPac are tumbling despite PBOC injecting a massive CNY160bn of liquidity (and modestly strengthening the Yuan fix), as safe-haven flows push 10Y China bonds to 2.70% - a record low.
Chinese bonds just hit a record low yield...
- *CHINA 10-YEAR BOND YIELD DROPS 3 BPS TO RECORD 2.70%
Offshore Yuan is selling off again...
And Chinese equities are a bloodbath in 2016...
And tonight's open is not helping...
- *MSCI ASIA PACIFIC INDEX EXTENDS LOSS TO 2.3%
- *FTSE CHINA A50 JANUARY FUTURES FALL 1.7% IN SINGAPORE
- *SHANGHAI COMPOSITE FALLS BELOW AUGUST CLOSING LOW
But China "flu" appears to be spreading as carry trade unwinds spread to JPY...
Japanese stocks are plunging - NKY down 700 points from its US session highs...
To its weakest since Oct 2014...
Get back to work Mr. Kuroda!!!
Charts: Bloomberg
(12 votes)
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Might go like a knife thru butter at 1867.
close below 1860-7 then Hello 1575.
Yippppiiieee
Long SPXU and TLT
China is fine! It's fiine!
whoo ho
hooo!
The best show in town!
It would appear with Brent crashing and burning that war is coming hot, hard and fast to the Middle East. Once it breaks $20 /bbl I figure the Persians and Arabs mix it up with the Euroidiots being dragged into it somehow.
I'm waiting for the ultra leveraged, no market, billion dollar derivative bets to start blowing up -- shorting XLF and KRE.
Maybe, just MAYBE I'll get my wish- the shit show falling apart on Obama's watch so I can say "Obama's fault" for the next 15 years.
SQQQ calls.
Thats been my wish for 7 f,n years. All he GAF about is his Legacy, Fixing what he called the worst Recession since 1929 and Healthcare and both are Imploding before he leaves office. Sideshow Barry can now go Fk himself.
Yeah, just in time for him to call martial law and serve another term as dicktatter.
This article is hot garbage. The HKD is coming OFF of the peg... it is not testing the peg.
It will fall moar with Persian Oil on the el mercado!
>>>war is coming hot, hard and fast to the Middle East.
From the inexhaustiible depths of secular morality, Sweden will accept all war casualties, provided they're Muslim. Preference given, of course, to burn victims and paraplegics.
Swedish GDP gonna BOOM!
Did he say that or you just joking around? If he did please send me the link so I can giggle like a kid in class.
The good news is China is in the driver's seat.
The bad news is that the ride ain't over till China says its over.
Whoa... I am swaying like a drunken sailor. I'm feeling kind'a sick...
ITS ON BITCHEZ!!!!!!!!!!
And Brent is in the 20s:
http://finviz.com/futures_charts.ashx?t=QA&p=m5
Now with new and improved neo-Keynesian freshness!
It's the old "Throw Good Money After Bad" play. Success!
All they need is a couple quadrillion dollars and they can solve this multi-trillion dollar problem! ;-)
The world economy is a structure fire. Throwing fiat paper at it will just make it burn hotter and higher.
By god thats it!!! Just print money and burn it! Then use that energy to boil water and create steam! Once thats complete, harness the steam in turbines covered in copper filaments and bam bitches! Electricity! Fuck Tesla! Just priny and burn fiat money!
You did it!! World peace!!
That indirect bidder BoJ couldn't stabilize the trade.
Who's the new third world central bank storing long dated Treasuries?
What is your plays? you are the only one I know who is solid with the asian currencies. I use to be under my other name until the ban hammer got me for kicking the ant hill.
Yen- Straight from the gut... you think they are they losing control of this? You're way more plugged into this stuff than I am. I'm thinking they're damned close being in a flat spin. Events seem to be happening faster than any centralized-control government could ever react to them.
Not yet... There's still MOAR fun and games to come.
Thanks for inquiring...
+1 indeed there is still moar fun and games in the cards
from elsewhere: "Total International Reserves held by Central Banks, excluding gold, expressed in US dollars, amount to $11.032 Trillion dollars as of that date.
The decrease in Reserves thus amounts to precisely $1 Trillion dollars, as of January 8, 2016. This gigantic fall, of 8.31% of the maximum amount of Reserves - $12.032 Trillion dollars recorded on August 1, 2014 - took place over the course of only 17 months, whereas the growth of Reserves to its maximum figure took some 70 years, roughly since the end of WW II. (data for Friday, January 8, 2016)"
in 17 months, one cool trillion of FX Reserves gone, from 12 to 11
this while the ECB and the Bank of Japan are expanding and the FED is - at least officially - staying put
do you hear the giant sucking sound?
Keep stacking those shorts.
“From now on, depressions will be scientifically created.” — Congressman Charles A. Lindbergh Sr. , 1913
Central Bankers:
Please remain seated until we crash into the control tower.
Edit - I think short of some sort of concerted CB intervention and very publically at that - the Reckoning may have arrived.
Live 10' delayed view of the NIK, and world equity-commodity collapse, here:
http://finviz.com/futures_charts.ashx?t=NKD&p=h1
The. End. Is. Here.
Adjusted for inflation, how long will someone need to wait to get their money back from the Nikkei high of 38,915.87 of December 29, 1989?
Godot will have to show up first.
Talk about Wall Street selling short and cleaning up..
They tried to do it in Shanghai last summer, but they got their dicks caught in the meat grinder.
heh heh
Look out for Tuesday - 1/19/16.
Why! And the answer better be good and not some fortune teller bull shit.
Numerology. Mark lives a few degrees out of phase with what the rest of us call reality, near as I can tell. Works for him but it's difficult to view from our temporal plane of space/time.
I'll consider that a compliment.
Judging by what most of my fellow citizens deem to be "reality", I wear my eccentricity like a badge of honor.
Here is what a bunch of so-called "adults" will be doing here on Friday:
http://www.post-gazette.com/sports/steelers/2016/01/13/City-county-hosting-rally-for-Steelers-in-Market-Square-on-Friday/stories/201601130222
'The "Steelers Friday" event, which will be hosted by DJ Scottro and Tall Cathy from 96.1 Kiss FM, will also feature giveaways, performances by the Pittsburgh Steeline Drumline and appearances by Steelers alumni and Steely McBeam.'
Yes. Steely McBeam.
But you still haven't told us why we should look out for Tuesday.
It's all in the numbers.
The numbers 9 and 11 are favorites of the numerologists that run this dump. I think this one is a no-brainer call. Flip the 6 upside down and you get - a 9.
11919.
Oh.
Yeah. See what I mean?
So pathetic that I can barely take it. NFLtards. They are everywhere.
Surrounded by stupid. That's my motto.
I refer to the fans of our local team as "Still Dumb Nation" instead of "Steelers Nation".
I can't believe I ever liked that shit.
Say what you want about me, progressive and queer and all, but at least I'm not populating the Earth with a bunch of salivating, knuckle-dragging, IQ-challenged idiots.
That's a good start, but I'd seriously look into getting out of the regressive left and finding a more intelligent lot. They are as bad as the NFLtards I'm afraid.
And go where? Libertarian? Republican?
I'm happy where I am. I can mock and ridicule Hillary bots on the FluffPo then come on here and mix it up with a bunch of anarcho-conservatives/libertarians. Best of both worlds.
What is a "Stealy McBeam"?
Possibly the dumbest name for a major league mascot yet conceived...
Probably dreampt up while piss-drunk on Old Froth And Slosh.